Core Viewpoint - The real estate market in China continues to face significant challenges, with declining transaction volumes and expanding price drops, indicating a need for new policy adjustments to stabilize the market [1][6][26]. Group 1: Market Performance - National real estate development investment growth rate decreased by 11.2% year-on-year in the first half of the year, with the decline expanding by 0.5 percentage points compared to the previous five months [4]. - The funding received by real estate development companies fell by 6.2% year-on-year, with a decline of 0.9 percentage points compared to the previous period [4]. - The real estate development prosperity index also decreased by 0.11 compared to the previous period [4]. - The sales area and sales revenue of newly built commercial housing also saw an increase in their decline, with sales area dropping from -2.9% to -3.5% and sales revenue from -3.8% to -5.5% [4]. Group 2: Price Trends - In June 2025, 14 cities saw new home prices increase month-on-month, while 56 cities experienced price declines, marking the highest number of cities with price drops in nearly eight months [10]. - The second-hand housing market shows a more pronounced downward trend, with only one city, Xining, reporting price increases in June, while the remaining 69 cities experienced price declines [13]. - First-tier cities also showed a downward trend in housing prices, with only Shanghai reporting a month-on-month increase of 0.4% and a year-on-year increase of 6% [16]. Group 3: Policy Implications - The current market downturn is seen as a nationwide issue, highlighting the urgent need for policy interventions to stabilize the market [26]. - The National Bureau of Statistics has indicated that the decline in real estate sales area and revenue necessitates a stronger push to stabilize the market [26]. - Expectations are growing for significant policy measures to be implemented in the third quarter to address the ongoing challenges in the real estate sector [27].
官方房价发布:天津跌幅收窄,将更大力度止跌回稳!
Sou Hu Cai Jing·2025-07-16 09:32